June is always a great month—sunshine, flowers, school is out, and Alexandrite is its birthstone (shared with Pearl that is).
Rarity is one of the hallmarks of gems. All gems are rare. For instance and by comparison gold is about 30+ dollars per gram. The most affordable gems match and surpass that easily (Amethyst, Citrine, and Red Garnet). Gold owes its price to its rarity. If gold were as available as iron or aluminum its price would also be per-ton and not per-ounce.
If rarity is a big deal in this world then Alexandrite (natural Alexandrite) is way underpriced even at prices I’ve seen listed. The prices I’ve seen large fine Alexandrite listed at wholesale would extrapolate to between $50,000 and $100,000 PER-CARAT retail—or more.
For our first 15 years in the business there was almost no quantity of good Alexandrite in the market. There were a number of stones from time to time mined in Sri Lanka that might be OK for size and clarity but their color ranged from dark muddy brown to dark muddy green. Not exciting. However, in 1987 there was a miraculous discovery of Alex (we’re friends now) in Nova Era, Brasil. Luckily we were in Brasil several times that year and got to see and buy large amazing Alexandrite gems in quantity. It was the proverbial kid in a candy store experience.
At the turn of this century there was a discovery of Alexandrite in India. This was welcome since the material from Brasil was largely out of the general market by then. The gem in the photo is from the Indian find.